11-9-5. Governing body resolution creating district--Boundaries--Name.
The governing body shall adopt a resolution that:
(1)Describes the boundaries, which may be the same as those recommended by the planning commission, of a district with sufficient definiteness to identify with ordinary and reasonable certainty the territory included. The boundaries may not split a whole unit of property that is being used for a single purpose;
(2)Creates the district on a given date;
(3)Assigns a name to the district for identification purposes. The first district created in each municipality shall be known as "Tax Increment Financing District Number One, City (or Town, or County) of __________." Each subsequently created district shall be assigned the next consecutive number.
Source: SL 1978, ch 91, §7 (3); SL 2018, ch 70, §11.